For a 'Good for day' order, which statement is true?

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Multiple Choice

For a 'Good for day' order, which statement is true?

Explanation:
Good-for-day orders are time-in-force for a single trading day. They stay active in the market only until the end of that trading session, and if they aren’t executed, they’re canceled at the close. They don’t carry over to the next trading day, they don’t extend to the end of the month, and they aren’t kept after settlement. So the statement that it remains valid until the close of trading for the current business day is the correct description.

Good-for-day orders are time-in-force for a single trading day. They stay active in the market only until the end of that trading session, and if they aren’t executed, they’re canceled at the close. They don’t carry over to the next trading day, they don’t extend to the end of the month, and they aren’t kept after settlement. So the statement that it remains valid until the close of trading for the current business day is the correct description.

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